UK Share Prices Watch: Vodafone And Informa Rise

Marks & Spencer Group (LON:MKS), whose results sent the shares tumbling earlier in the week, is on the mend today, even as JPMorgan reiterated its ‘underweight’ rating on the stock. Sharecast quoted the broker as criticising the company’s choice of strategy in a challenging market for retailers. While the analysts conceded that setting the foundations for a turnaround takes time, they further argued that there was ‘minimal tangible evidence of progress’ in the latest set of financials from the company. Marks & Spencer’s shares nevertheless are about 3.2 percent up.

Mid-cap Royal Mail Group (LON:RMG) has again made the UK share prices to watch list as Liberum lifted its rating on the privatised postal operator. Proactive Investors quoted the broker as pointing out that the postal operator’s new strategy had “brought clarity to how management intends to deal with the substantial structural challenges faced by the group”. The shares in the FTSE 250 company have gained nearly six percent this Friday, lending support to the FTSE 250 which stands about 0.6 percent higher.

Brexit in focus as Theresa May steps down

Broader market sentiment has been upbeat today despite the lingering worries over the US-China trade relations. At home, Prime Minister Theresa May has announced that she would resign as leader of the Conservative and Unionist Party on Friday, June 7, saying in a statement that it was “and will always remain, a matter of deep regret to me that I have not been able to deliver Brexit”.

“Theresa May’s announcement […] comes as no surprise, but it could lead to a chain reaction that will ultimately be negative for UK market sentiment,” said Seema Shah, senior global investment strategist at Principal Global Investors, as quoted by Reuters. “At this stage the extreme results of either no deal or no Brexit seem more likely than a negotiated managed Brexit.”

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Disclosure: The author doesn’t have positions in these stocks currently, but may initiate positions if the stock prices slide a bit lower. None of the content in this article should be ...

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Mohammed Rizwan 2 years ago Member's comment

Nice article.

Leslie Miriam 2 years ago Member's comment

Yes, Cory always has good stuff.